Here are the Top Brands Adored by Millennials Today!
The stats don’t lie. Millennials have a taste for the fancier things in life. Perhaps one of the reasons why is because they are earning much better than their predecessors. Which has instilled a laissez-faire culture when it comes to purchasing luxury brands and goods.
A Taste for the Finer Things in Life
As a matter of fact, a recent survey conducted in the United States, Europe, and China on 3000 consumers found that millennials in their youth years, that is 18 to 35 contributed to a whopping 85 percent growth in terms of expenditures in the luxury market.
Additionally, the study predicts that this same age group by the year 2025 will represent a massive 45 percent of all luxury expenditure. The said report was released on Friday a fortnight ago.
So what are millennials most favorite brands? Here in the United States, the like of Louis Vuitton and Gucci lead the list. This is according to a UBS survey that looked into varying facets of social media data.
Interestingly, despite the intent of buying via the online option is higher with these individuals as compared to older parties, physical stores appear to be more preferred when it comes to shopping
Directing Part of Their Income to Luxury
Additionally, Chinese millennials have been observed to allocate a substantial amount of their income, roughly 20%, to purchasing lavish goods and services. That being said, the same percentage appears to be the case when it comes to older individuals in the country as well.
However, in areas such as the United States and Italy, it was observed that millennials tend to have higher spending budgets as compared to their elders.
Keeping this in mind, here are other brands that seem to be fan favorites among millennials today.
Wouldn’t you know? The giant streaming site is hands down the most loved brands by millennials after moving from the luxury scene. As a matter of fact, there are over 5 billion videos that are watched on YouTube on a daily basis, with a bulk of the views going to millennials.
Moreover, YouTube has given millions of millennials the opportunity to run their own businesses online and create a source of income for them.
If that’s not enough, it’s also a great source of entertainment and news for millions of millennials who are always online.
Google is hands down one of the most famous sites in the world. As a matter of fact, parent to YouTube, Google is virtually the king of online searches. Moreover, the ability for one to monetize their websites thanks to Google Ads has provided millennials with a basis for employment. It’s no wonder the sight is highly loved and revered among millennials!
The phrase ‘Netflix and Chill’ has become synonymous with modern dating today. Thanks to the affordable online streaming giant that has now become a global phenomenon.
This flexibility and ability to watch movies, documentaries, and series on the go has made Netflix one of the most loved brands by millennials.
It would be an understatement to call the media giant a cult sensation. In fact, Netflix is the largest streaming site in the world when disregarding China’s iQiyi.
Jeff Bezos is currently the world’s richest man, and he wouldn’t be if it wasn’t for the ravenous appetite that millennials have for goods and services. The only difference is that there is a relatively large number of millennials who would prefer waiting for their goods to come to them rather than to purchase them at the mall.
Keeping this in mind, Amazon’s effective delivery services has made it a fan favorite among millennials, who prefer their goods to come to them.
Sony has no doubted etched a name for itself in both the gaming and movie industry. In fact, their current console, the PS4 provides millennials with the opportunity to entertain themselves after a long day’s work. Additionally, the release of movies also serves as another alternative for entertainment.
If that’s not enough, Sony also dabbles in a number of household electronic goods such as flat screens, microwaves, fridges, and other essential devices.
With such a wide array of essential goods, it’s no surprise that it is one of the brands highly revered by millennials.
That being said, other notable mentions include UPS, Pixar, and Kellogg.
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